GST Annual Return and GST Audit

• GST annual return is required to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme under GSTR-9 & GSTR-9A. MaxBusiness provides GST Annual Return filing service and GST Consultants in Delhi, NCR and all other Indian cities.

• GSTR-9 form is an annual return to be filed once in a year by the registered taxpayers under GST. GSTR 9 return format contains details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST and IGST.

• The GST audit certification or the Audit of Annual return (also known as GST audit) lays the foundation for the first external verification/ assessment under the GST law. GST audit in form GSTR 9C is also required to be filed online with the GST department along with the annual return. GST auditor has to certify GSTR 9C form and file online.

• GSTR 9 Annual Return Due Date-Last date for filing GST annual return and GST Audit report is 31st December for the financial year. Before filing GSTR-9 annual return, the taxpayer must have filed all GSTR-1 or GSTR-3B or GSTR-4 return for the period.

• The declaration of the information in the GSTR 9 form or GST Audit Report has tremendous implications. Any incorrect information can attract GST notice, tax demands, interest and penalties on the same hence must be done carefully under the expert supervision of GST practitioner, CA firm or GST consultant.

• The main source for preparing GSTR-9 will be GSTR-1 and GSTR-3B returns. All information has to be cross-checked with the books of accounts and other supporting documents before filling in the annual returns.

• MaxBusiness is a leading GST consultant in Delhi offering end to end GST services including GST registration, GST return filing, GST Reconciliation, GST accounting, GSTR 9 annual return, GST Audit assistance and GST assessments along with the resolution of GST refunds and GST notices. You may get in touch with our GST Expert at 01149095741/ 41101741 or send your queries at info@maxbusiness.in.

• 100% security and confidentiality guarantee
• In-house team of experienced Tax Lawyers, GST Accountants, and CAs
• Guarantee of accurate and timely filing
• Associated with reputed CA firms in India and other GST Consultants
• GST department liasioning and support

• All the registered taxable persons under GST must file GSTR 9 form. However, the following persons are not required to file GSTR 9
• Taxpayers opting Composition scheme as they must file GSTR-9A.
• Casual Taxable Person
• Input service distributors
• Non-resident taxable persons
• Persons paying TDS under section 51 of the CGST Act.

• GSTR-9

• All entities having GST registration are required to file annual return form GSTR-9.

• GSTR-9A

• GST registered taxpayers who have opted for the GST Composition Scheme under Goods and Services Tax (GST) are required to file GSTR-9A.

• GSTR-9B

• GSTR 9B should be filed by the e-commerce operators who have filed GSTR 8 during the financial year

• GSTR-9C

• Form GSTR-9C is a format for GST audit report for filing the GST reconciliation statement between the Annual Returns in GSTR-9 and the Audited Financial Statements of the taxpayer.

• GST Audit

• GST audit is applicable for a person having GST registration with an annual aggregate turnover of above Rs. 2 crores in the financial year. GSTR 9C is applicable to taxpayers who are required to obtain an annual GST audit of their accounts. GSTR-9C must be prepared and certified by a Chartered Accountant or Cost Accountant.

• • Our Expert team of GST Accountants, Tax consultants and CA Firms at MaxBusiness have developed a unique program for detailed GST audit and reconciliation of GST returns with books of accounts for timely and accurate filing of GSTR 9 annual return form along with GST audit report in form GSTR 9C.

1. Input Tax Credit – GSTR 2A reconciliation

• • • • a. Monthly return comparisons with books and GSTR 2A
      • b. ITC mismatches, reversals and reclaimed during the year

2. GST Output Liability

• • • • a. Monthly GST return form 3B and GSTR 1 comparisons with books
      • b. Reconciliation between the value of supplies as per GST annual return with audited financial statement
      • c. Percentage of supplies from RCM (Reverse Charge Mechanism)

3. Internal Control

• • • • a. Vendor wise compliance rating – GSTR-2A reconciliation
      • b. Recommendations on efficiency and effectiveness of internal control- Accuracy of GSTR-1 filing

4.Compliance

• • • a. GSTR-1 and GSTR-3b filing
    • b. Calculation of Pending GST Demand, Interest and penalty
    • c. Filing Annual Return in GSTR 9 and Reconciliation in GSTR Form 9C
    • d. GST assessment, GST Notices, and reports as mandated by GST law